Stocks Sink as Tech Slump Continues

S&P 500, Nasdaq close lower, but Dow gains 20 points
By Newser Editors and Wire Services
Posted Sep 6, 2018 3:20 PM CDT
Stocks Sink as Tech Slump Continues
Specialists Matthew Greiner, left, and Peter Mazza, center, work with trader Peter Mancuso on the floor of the New York Stock Exchange, Thursday, Sept. 6, 2018.   (AP Photo/Richard Drew)

Technology companies are finishing another day of sharp losses Thursday, although the broader market didn't fare as badly, the AP reports. Apple fell 1.7% Thursday. Chipmakers sank after a KLA-Tencor executive said business in the fourth quarter looks weaker than the company expected. KLA lost 10.4%. Facebook lost 2.7% and Twitter fell 5.9% after similar drops the day before. Industrial companies and big dividend payers canceled out some of those losses. Defense contractor Lockheed Martin rose 2.4% and General Mills added 3.2%. The S&P 500 index fell 10 points or 0.4%, to 2,878. The Dow Jones Industrial Average gained 20 points to 25,995. The Nasdaq composite lost 72 points, or 0.9%, to 7,922. (More stock market stories.)

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